Notes on Industry Trends Signage Industries 2021-2022

BUSINESS

Digital Signage Market to Grow at a CAGR of 10.5% by 2030

The global Digital Signage market size is expected to be worth around US$ 48.23 billion by 2030, according to a new report by Vision Research Reports. The global Digital Signage market size was valued at US$ 31.49 billion in 2020 and is anticipated to grow at a CAGR of 10.5% during forecast period 2021 to 2030.

Growth Factors

The creation and distribution of content with digital signage are effective promotional strategies for enterprises, as they can reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors.

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Digital screens equipped with 4K technology have high demand as they offer enhanced displays. Thus, the demand for advertising content with better sharpness and enhanced quality is fueling product adoption. Moreover, the incorporation of LED-backlit panels has led to additional energy savings at a considerable level. Thus, the reduction in energy consumption due to the adoption of advanced technologies is luring enterprises to opt for digital signage.

The software providers are focusing on the new entrants of the industry by providing design solutions that are compatible with the Android operating systems. The emergence of , coupled with the increasing adoption of, is expected to enable the collection of vital operational and maketing data. Digital signage helps companies decrease their long-term operational costs by reducing the use of paper for advertising and frequent damages and changes that are associated with traditional marketing activities. 

Report Highlights

The video walls segment accounted for the largest market share of over 37% in 2020 and is expected to retain the leading position during the forecast period. The video walls and kiosks segments gained a high share in 2020 followed by the video screens segment. Video walls and screens have captured a major market share across shopping malls and other public places. Kiosks are generally used to provide information and for advertising in institutes and retail verticals.

However, transparent LED screens are expected to emerge as the fastest-growing segment expanding over the forecast period. Transparent LED screens offer high resolution and a transparency level beyond 80%. Besides, they are adequately efficient in terms of energy, thus, reducing energy consumption and optimizing the overhead expenditure of users. All these factors are anticipated to catapult the demand for transparent LED screens over the coming years.

The hardware component segment accounted for the largest revenue share of 66.56% in 2020 and is anticipated to maintain its position during the forecast period. Hardware components consist of displays, components required to manufacture a digital panel, banners, and so on. Compared to software, the hardware requirement is huge, and thus, the segment accounts for a large share in the industry. Growing technological innovations, such as 1080p, 4K, and 8K display, are expected to propel the demand for hardware components, thereby supporting the segment growth. Advancement in 3D technology has developed glasses-free 3D displays. Furthermore, the graphics design agencies are shifting their focus to 3D holographic display cases. For example, HYPERVSN, a European provider of holographic technology is providing them for various applications ranging from advertising in malls to showpieces at trade shows.

The retail sector accounted for the largest market share of 30.42% in 2020. Retail is the most prominent sector using digitized advertisements for marketing and promoting products and services. The competition among the retailers owing to the variety of product offerings in the industry has led to the growing awareness of effective marketing strategies. Thus, digital posters are widely used in the retail sector as digitized advertising is an effective way of marketing.

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The in-store locations segment accounted for the largest revenue share of more than 82% in 2020. The high share is attributed to the increased product demand from retail stores since the retail sector is the most promising application segment in the global market. The segment is estimated to retain its dominant share exhibiting a considerable growth rate throughout the forecast period due to consistent demand. In-store locations include the deployment of digital posters within closed premises, such as malls, corporate offices, retail shops, banks, and healthcare centers.

The non-broadcast segment led the market in 2020 with the largest revenue share of over 67%. However, the broadcast content category is expected to emerge as the fastest-growing segment expanding at a CAGR of over 10% from 2021 to 2030. The broadcast content category is further segregated into the news, weather, sports, and others. The sports segment dominated the segment in 2020 and accounted for the highest market share. The increasing adoption of digital signage for displaying sports-related content across the stadium and sports ground during the tournaments is driving the segment growth.

The below 32 inches display segment accounted for the largest revenue share of 45.89% in 2020. The high share is attributed to the greater adoption of this type of signage in the retail sector. Shop dimensions are one of the most important reasons for concern in retail shops. Due to the limitations of the area, the adoption of smaller-sized digital advertisements is greater. Thus, the segment accounted for a healthy market share and is anticipated to dominate the industry over the forecast period.

The LED segment accounted for the largest revenue share of over 55% in 2020 and will expand further at the fastest CAGR from 2021 to 2030. The LCD technology is also estimated to register significant growth in the years to come. LCD technology is one of the most extensively adopted technologies in the advertisement & marketing industry. The ease of producing LCDs and their lower manufacturing costs are a few factors behind the significant adoption of LCD technology in digital posters. However, LEDs have successfully made a mark as a standard product with their high-quality display. Manufacturers remain aspirant of the designing of flat-paneled, larger, brighter, and slimmer displays.

North America emerged as the dominant regional market in 2020 with a revenue share exceeding 55%, followed by Europe. The high share is attributed to the presence of dedicated product suppliers along with the high demand for signage in the retail industry of the region. The U.K., Germany, and the U.S., in particular, are projected to exhibit considerable growth primarily due to rising R&D endeavors by the product manufacturers and increasing government initiatives to install digital signage at various offices for maintaining a continuous information flow system. Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to the growing awareness about the product benefits.

Report CoverageDetails
Market SizeUS$ 48.23 Billion by 2030
Growth RateCAGR of 10.5% From 2021 to 2030
Base Year2020
Forecast Period2021 to 2030
Segments CoveredScreen Type, Component, Technology, Location, Content Category, Screen Size, Application, Region
Companies MentionedADFLOW Networks, BrightSign, LLC, Cisco Systems, Inc., Intel Corp., KeyWest Technology, Inc., LG Electronics (LG Corp.), Microsoft Corp., NEC Display Solutions, Omnivex Corp.

Key Players

Market Segmentation

  • Screen Type Outlook
    • Video Walls
    • Video Screens
    • Transparent LED Screens
    • Digital Posters
    • Kiosks
    • Others
  • Component Outlook
    • Hardware
    • Software
    • Services
  • Technology Outlook
    • LCD
    • LED
    • Projection
  • Location Outlook
    • In-store
    • Out-store
  • Content Category Outlook
    • Broadcast
      • News
      • Weather
      • Sports
      • Others
    • Non-Broadcast
  • Screen Size Outlook
    • Below 32 Inches
    • 32 to 52 Inches
    • More than 52 Inches
  • Application Outlook
    • Retail
    • Hospitality
    • Entertainment
    • Stadiums & Playgrounds
    • Corporate
    • Banking
    • Healthcare
    • Education
    • Transportation
  • Regional Outlook
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
      • France
    • Asia Pacific
      • China
      • Japan
      • India
    • South America
      • Brazil
    • Middle East & Africa

The Digital Signage market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Digital Signage market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Digital Signage market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Digital Signage market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Digital Signage market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Digital Signage capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Digital Signage by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Digital Signage market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Digital Signage market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Digital Signage market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Digital Signage industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Digital Signage market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Digital Signage market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Digital Signage market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Digital Signage market. These factors have benefited the growth of the global market for Digital Signage. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Digital Signage. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Digital Signage are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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